Midnight Oil drummer Rob Hirst says members of the iconic Australian band are up for a reunion tour.

Hirst has told online music magazine Faster Louder that the band is waiting for frontman and former politician Peter Garrett to finish writing his memoirs.

Midnight Oil could reunite, 'everyone is up for it', says drummer.Credit:Glen McCurtayne

"Peter's writing his memoirs at the moment, so that might take a while, but I think everyone's up for it," Hirst told Faster Louder.

"Bonesy's (Bones Hillman) living in Nashville, and by all accounts playing better than ever - the calluses on his fingers must be enormous by now. And of course Martin (Rotsey), Jim (Moginie) and I all play in The Break, so everyone's around.

"We'll just see down the track. Hopefully it wont be so long that we won't be able to put on the sort of show that we'd like to put on," Hirst said.

Hirst was talking to FL to mark the release of a new DVD, Black Rain Falls, which captures the band's notorious 1990 guerilla concert outside Exxon Oil headquarters in protest over the Exxon Valdez oil spill.

Speculation that the band would be making a comeback started when Garrett chose not to recontest his NSW seat of Kingsford Smith for Labor at the last federal election.

The former education minister was one of seven Labor ministers to resign from cabinet after Kevin Rudd took the leadership from Julia Gillard.

Known for his eccentric dancing style and bald head, Garrett announced in 2002 he was leaving the band to focus on his political career.

Midnight Oil has reformed twice since then for WaveAid in 2005 and Sound Relief in 2009.